Polymarket and Kalshi Prepare New Investment Rounds Valued Up to $10 Billion

Prediction platforms Polymarket and Kalshi are in talks for new investment rounds that could significantly increase their market value. This was reported by The Information and Business Insider, citing sources familiar with the details of the deals.

According to media reports, Polymarket is considering offers valuing the company at approximately $9 billion, with one investor even proposing a deal valued at around $10 billion. This would represent a sharp increase compared to the previous round.

Kalshi, on the other hand, is close to an agreement at the $5 billion level, whereas just a few months ago the project was valued at $2 billion. Unlike Polymarket, Kalshi operates as a regulated platform in the US under the supervision of the CFTC, requiring dollar deposits and KYC procedures.

Despite high investor interest, in August 2025, the trading volumes of both platforms decreased: Polymarket’s were about $1 billion, and Kalshi’s were $875 million.

Among Polymarket’s investors is Peter Thiel’s Founders Fund. Kalshi’s shareholders include Paradigm and Sequoia Capital. Additionally, Kalshi has partnered with Robinhood, and Polymarket has signed an agreement with the social network X (formerly Twitter), becoming its official prediction partner.

The growing user interest in the prediction segment is intensifying competition. Coinbase is considering launching its own platform, while Crypto.com and Underdog already offer such services in 16 US states.